Amazon.com and Simon & Schuster reach multiyear agreement for print and digital books

IndustriesAssociated Press

Amazon.com and Hachette Book Group remain in a months-long standoff, but the online retailer has reached a multiyear agreement with another major New York publisher, Simon & Schuster.

Amazon and Simon & Schuster both expressed satisfaction Monday with the deal. Amazon issued a statement saying the agreement would help both sides. Simon & Schuster sent a letter to its authors and their agents, saying the agreement was "economically advantageous."

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Amazon has been slowing deliveries and limiting availability for numerous Hachette books, including Tina Fey's "Bossypants" and Sherman Alexie's "The Absolutely True Diary of a Part-Time Indian." Amazon and Hachette have reportedly been unable to agree on how to share e-book revenues.

Simon & Schuster authors include Stephen King and Walter Isaacson. Monday's agreement is for both print and digital books.